Mountgrange Investment Management, the UK property fund and asset manager, announced that it has closed its first fund, the Mountgrange Real Estate Opportunity Fund, with a total of £300 miln (EUR 340 mln) of committed equity. The company claims the fund raising is one of the largest and most successful for a UK dedicated fund in recent times.
Mountgrange Investment Management, the UK property fund and asset manager, announced that it has closed its first fund, the Mountgrange Real Estate Opportunity Fund, with a total of £300 miln (EUR 340 mln) of committed equity. The company claims the fund raising is one of the largest and most successful for a UK dedicated fund in recent times.
With debt, the fund will have £850 mln of acquisition capacity. The fund has attracted over 30 investors from around the world including the US, Canada, the UK, Continental Europe, the Middle East and Australia, with capital coming from endowment and pension funds, sovereign wealth funds, fund of funds, high net worth individuals and family offices.
The fund is focused on the UK and expects it to take advantage of current depressed valuations in order to make opportunistic investments across a number of market segments.
